1) What are some of the benefits of Coconut Oil? (Select all that apply) a) Antibacterial, antifungal, and antiviral properties. b) Promotes wound healing. c) Moisturizing d) Exfoliates the skin. 2) What is "base production cost"? a) The cost of our website. b) The cost incurred to run a small business. c) The costs incurred to create a product. d) Supply costs such as trays, bowls and butter. 3) Why should we seek out market averages? a) So we can decide which scents to use. b) To determine the best price for selling our product. c) So we can avoid using ingredients that could cause allergies. d) Because the market is down the street. 4) What other expenses should we consider? (Select all that apply) a) Marketing / Advertising b) Shipping c) Drive Time d) Transaction Fees 5) Mica powders are excellent for adding scents to your lip balm. a) True b) False 6) How can we add scents to our lip balm? (Select all that apply) a) Essential Oil b) Kool-Aid c) Beeswax d) Red Raspberry Seed Oil 7) Red raspberry seed oil provides a natural SPF to your product to protect from harmful sun rays. a) True b) False 8) Candelilla is a great alternative wax for a vegan friendly lip balm. a) True b) False 9) What are some things we need to find when calculating our base production cost? (Select all that apply) a) Total Cost of Shea Butter. b) Number of Servings to Make one million tubes. c) Cost Per Serving 10) What is the minimum price we should charge? a) 50% Markup b) 100% Markup c) 70% Markup d) 10% Markup

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